House prices will continue to slide in 2017

Property prices that would have caused a buying frenzy had it still been the period before the financial crisis are now appearing in a number of upmarket areas of Attica, estate agency data show, while the uncertainty in the country's economy leaves no scope for any improvement in the market in the coming year either, real estate experts warn.

As the financial crisis continues, with households being unable to access bank financing, transactions are few and far between, even with property prices as low as they currently are.

According to Yiannis Xylas, owner of Geoaxis Property & Valuation Services, although the rate of the price decline dropped to 2.2 percent on annual basis in the third quarter of the year, the slump is expected to continue for as long as the economic climate shows no signs of improvement.

Xylas argues that the significant delays in the start...